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Amendment of Part 11 (capital allowances and expenses for certain road vehicles) of Principal Act.
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28.—(1) Part 11 of the Principal Act is amended—
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(a) in section 373(2)—
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(i) by substituting “January 2001;” for “January 2001.” in paragraph (m)(ii), and
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(ii) by inserting the following after paragraph (m):
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“(n) €22,000, where the expenditure was incurred—
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(i) in an accounting period ending on or after 1 January 2002, or
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(ii) in a basis period for a year of assessment, where that basis period ends on or after 1 January 2002.”,
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(b) in section 374(1), by substituting “the purposes of that section” for “the purpose of subsection (3) of that section”, and
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(c) by deleting section 376.
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(2) (a) Subsection (1)(b) applies as respects capital expenditure incurred on or after 1 January 2001.
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(b) Subsection (1)(c) applies as respects expenditure incurred—
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(i) in an accounting period ending on or after 1 January 2002, or
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(ii) in a basis period for a year of assessment, where that basis period ends on or after 1 January 2002.
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